As more retailers and councils opt to go cashless, the most frequent locations where people are been unable to pay in cash are in a restaurant (12%), in a café (12%) and the growing issue of paying for parking, where 11% of people said they’d been unable to pay using cash.
London came out top as the region in the UK where non-acceptance was highest with 58% of people responding they had been discouraged or told the location did not accept cash. This was followed by the Southeast and Wales (49% respectively). The lowest was in Northern Ireland at 29%.
Over the past three years, LINK has regularly conducted research to understand people’s attitude towards cash use through the pandemic and now into the cost-of-living crisis. From the most recent data, the other key headlines include:
Graham Mott, Director of Strategy, LINK: "We’ve seen a few stories in national media of late highlighting the issues of parking with customers not even able to use their cards, let alone cash. There’s been a broader trend with more shops and councils either becoming cashless or asking their customers to pay with card instead. We know many people are comfortable paying with cards or online, but there are still millions of people who don’t use technology and where this is problematic.
"It’s also interesting to see cash used for saving and that some people are going back to basics when managing their money, using cash to budget, saving loose change in coin jars and writing all their outgoings in one place."